Bangkok--11 Aug--Standard & Poor's
Standard & Poor's Rating Services corrected and raised its long-term rating on Contra Costa Water District, Calif.'s series J bonds to 'AA+' from 'AA'. The outlook is stable. On Sept .18, 2008, we raised the district's underlying rating (SPUR) to 'AA+' from 'AA'. However, due to an administrative error, we did not revise our long-term rating for the series J bonds, issued in 1999, which are on parity with the other Contra Costa Water District obligations. For more information on the district's credit, please see, "Contra Costa Water District, CA's Water Revenue Bond SPUR Raised To 'AA+' On Strong Finances," published Sept. 18, 2008, on RatingsDirect.
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